These are the most important economic news for today Monday July 17th 2017, which can influence the forex market and cause trading opportunities and trends.
Euro-Zone Consumer Price Index (June)
Time: 09:00 GMT
Consumer Price Index is a measure of inflation for the Euro-Zone. A higher than expected reading is bullish for the Euro as it indicates inflationary pressures and the possibility that the ECB will examine raising interest rates to fight inflation. The forecast is for the Euro-Zone CPI to remain unchanged at 0.0% for June on monthly basis and at 1.3% on yearly basis.
Upd: The CPI reached 0.0%
Euro-Zone Consumer Price Index – Core (June)
Time: 09:00 GMT
The Core CPI is excluding the volatile prices of food and energy, which are often volatile, and is considered a more representative measure of inflation. The expectation is for the Core CPI to remain unchanged at 1.1% on yearly basis showing stable prices.
Upd. The Core CPI remains 1,3%:
US USD Empire Manufacturing Indicator (July)
Time: 12:30 GMT
A report showing the business optimism and economic outlook conditions for manufacturers in the area of New York, but also for the broader manufacturing activity in the US. The expectation for the reading is 15.0, down from the previous reading of 19.8. Any positive surprise and higher than expected reading can be supportive for the US Dollar, showing improved manufacturing activity and better expectations for economic growth.
On Friday 14th July 2017 a lower than expected US Consumer Price Index for the month of June 2017 and weak retails sales, plus a lower than expected University of Michigan Confidence survey reading sent the US Dollar significant lower, as it depreciated against the major currency pairs. Depending on the outcomes of economic readings today this weakness of US Dollar can continue or show a reversal.Trade now
NOTE: This article is not an investment advice. Any references to historical price movements or levels is informational and based on external analysis and we do not warranty that any such movements or levels are likely to reoccur in the future.
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